Skip to main content August 2015 Investor Presentation – Woodside Petroleum Ltd. | Shale Experts
Loading...
Pm

August 2015 Investor Presentation – Woodside Petroleum Ltd.

Woodside Petroleum Ltd. · Aug 19, 2015 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 1
    2015 half-year results briefing Peter Coleman Chief Executive Officer and Managing Director 19 August 2015
  2. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 2
    Key achievements Delivered on our operating and investment commitments Entered FEED for Browse, FID targeted 2H 2016, accelerated Greater Enfield Increased 2P reserves (19.5%, 260.9 MMboe), 2C contingent resources (151%, 2,632…
  3. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 3
    Financial headlines US million unless otherwise stated Operating revenue 2,556 Reported Net Profit after Tax 679 Reported earnings US83 cps1 Interim dividend US66 cps1 Operating cash flow 1,083 Net debt 3.8 billion…
  4. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 4
    Business environment 1H 2015 120 Brent oil price Oil market likely to remain oversupplied through 2016 2015 world oil demand growth 1.4 mbd; double 2014 growth 100 Oil market rebalancing gradually Spot prices for LNG to Asia have…
  5. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 5
    Safety and environment Unrelenting focus on achieving top-quartile performance 5 Total Recordable Injury Rate Flare gas intensity Process Safety Events 16 TRIR2 per million hours worked 4 14 12 3 10 Events t/kt 8…
  6. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 6
    Financial management Lawrie Tremaine Chief Financial Officer
  7. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 7
    Reported profit - 1H 2014 vs. 1H 2015 First half reported profit of 679 million down 39% on 1H 2014 1,105 910 679 287 US million 182 150 163 2 1H 2014 NPAT Sales revenue - Sales revenue - Net trading margin Net cost…
  8. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 8
    Competitive financial performance Peer leading earnings per barrel for 1H 2015 1H 2015 1H 2015 Earnings per barrel1 Operating cash flow per barrel1 30 20 25 15 20 10 15 5 10 US US - 5 (5) - (10) (5) (15) (10)…
  9. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 9
    Production First half production of 42.0 MMboe down 10% from 1H 2014 60 2015 guidance unchanged, 86-94 MMboe 1.8 0.6 50 46.5 2.9 2.5 Pluto turnaround ten days, 30% ahead 1.5 42.0 of schedule 40 Continued reliability improvement…
  10. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 10
    Product pricing US/boe % USm Revenue 1H 2015 1H 2014 Variance Products impact NWS LNG 48 77 (38%) (310) Pluto price change reflects Pluto LNG 67 70 (4%) (45) Pipeline natural gas 23 31 (26%) (27) full half impact of price Condensate…
  11. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 11
    Unit production costs Success in delivering cost reduction Gas production costs Pluto Oil production costs 250 turnaround 20.00 164 210 204 210 18.00 153 143 139 200 16.00 48 14.00 150 138 12.00 162 10.00 100…
  12. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 12
    Productivity program is delivering External spend optimised Volume maximised Target: 10 to 20% reduction in external spend Target: 3 to 5% uplift in volumes from existing assets Savings 2014 2015E Improved plant reliability and reduced…
  13. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 13
    Investment expenditure 4,000 Pluto Well developments 200m, Xena development costs 40m and sustaining capex 20m 3,000 NWS USm Greater Western Flank and Persephone 190 100m, Karratha Life Extension 50m and 2,000 3,831 3,764…
  14. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 14
    Liquidity Debt maturity profile at 31 January 2015 3,500 3,000 3.75 billion refinanced via bond and bank markets 2,500 in 2015 2,000 USm 1,500 Continued strong debt market support 1,000 3.2 billion in cash and undrawn…
  15. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 15
    Dividend First half US66 cents per share fully franked interim dividend 111 Interim dividend (US cps) 83 Represents an 80% payout ratio 65 66 55 50 1H 2010 1H 2011 1H 2012 1H 2013 1H 2014 1H 2015 Interim dividend…
  16. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 16
    Strategy update Peter Coleman Chief Executive Officer and Managing Director
  17. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 17
    Browse FLNG Development Browse FLNG Development entered FEED in June FID targeted for 2H 2016 Activities are ongoing to finalise technical definition Pursuing cost reductions Progressing regulatory approvals Image courtesy of…
  18. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 18
    Wheatstone LNG Project progressing to plan Julimar Project1 Julimar Project1: Wheatstone LNG Project2 Julimar 65% complete at 31 July Brunello fields Wheatstone WPL 65% Iago fields Targeting ready for start up 2H 2016 WPL 0% 20%…
  19. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 19
    Kitimat LNG Appraising the Liard resource Key focus areas to progress the project: Appraisal drilling of the Liard Basin Cost competitive LNG facility First Nations support for upstream, Pacific Trail Pipeline route, LNG plant and…
  20. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 20
    Development pipeline Development projects are progressing to plan 2015 2016 2017 2018 2019 2020 2021 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H Browse NWS GWF 1 Persephone GWF 2 Lambert Deep Pluto - Xena Greater Enfield…
  21. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 21
    Global exploration Exploration drilling success in 1H 2015 Discovered additional 2C Contingent resource of 68 MMboe (net) for Pluto with the Pyxis-1 exploration well Cameroon: currently drilling Cheetah-1 well Republic of Korea:…
  22. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 22
    Global exploration pipeline Drilling and seismic activities demonstrate strategy execution 2015 2016 Size Drilling1 Q3 Q4 Q1 Q2 Q3 Q4 Volume2 Exmouth sub-basin Malaguti Dry hole Swell Large Beagle Basin Skippy Rocks Medium TBA Medium…
  23. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 23
    Priorities 2H 2015 and beyond Unrelenting focus on safety performance and operational excellence Drive down Browse costs to enable FID, target 2H 2016 Deliver Julimar Project 2H 2016 Execute Browse LNG sales agreements to enable…
  24. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 24
    Financial annexure
  25. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 25
    Operating revenue First half operating revenue of 2,556 million down 28%, Brent oil price down 46% 5,000 114 120 111 109 108 100 Decreased revenue from: 4,000 Average Brent oil price (US/bbl) Price impact: 865 million…
  26. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 26
    Gross unit cash margins Weighted average unit cash margins trend 1H 2015 cash margins by business area 3 9 7 8 9 9 8 8 3 7 8 12 4 28 8 6 4 58 61 60 US/boe US/boe 55 50 42 41 32 31 1H 2011 1H 2012 1H 2013 1H…
  27. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 27
    Cash flow trend 1,500 500 USm -500 Free cash flow Before asset acquisition -1,500 Operating cash flow -2,500 -3,500 1H 2012 1H 2013 1H 2014 1H 2015 Asset acquisition 2015 half-year results briefing 28
  28. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 28
    Capital management Gearing within target range of 10% - 30% following acquisition of assets Net debt and gearing 6,000 30 25 Target gearing Net debt (USm) range 20 % gearing 3,000 15 10 5 0 0 1H 2011 1H 2012…
  29. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 29
    Segment performance NWS and Pluto contribute the majority of EBITDA and are robust to low prices Business Unit performance NWS1 Pluto Aus Oil Production volume (MMboe) 21.6 15.9 4.5 NWS and Pluto margins remain substantial even in…
  30. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 30
    Consensus 1H 2015 profit and dividend in line with consensus Analyst Woodside consensus Variance Reported NPAT m 679 678 1 NPAT and dividend results consistent with market expectations Final dividend US cps 66 65 1 2015…
  31. August 2015 Investor Presentation – Woodside Petroleum Ltd. – slide 31
    Underlying NPAT reconciliation 1H 2015 1H 2014 Variance MMboe MMboe % Production volume 42.0 46.5 (9.7) Sales volume 43.4 44.7 (2.9) USm USm Variance % 1. EBITDAX = earnings before interest, tax, Sales revenue 2,305 3,354 (31.3)…

From the store

Browse maps, data & reports in the Shale Experts store